Editor's note: Miranda and Ellen finished their internship last week and we already miss them. I could say that through the summer they demonstrated everything they needed to demonstrate, including ability and eagerness to learn, timeliness, accuracy and mental agility. I could say that they demonstrated the social aspects necessary to be leaders in their fields and to inspire confidence in both their clients and their peers. But whatever I would say, it would seem inadequate to encompass the breadth of their performance here. They brought an energy to the office that was refreshing. If the two of them represent the future of the profession, I know it is in good hands. Yes, we will all miss them and hopefully we will be able to convince them to return. Good luck to both of you. My door is always open and, now that you have worked here, you will both always be part of the DAPCPA family. -DP
Miranda Oliverius
Reflection on week 7
Reflection on week 7
Wow, time flies (cliché as that may sound)! I can’t believe the summer is drawing to a close, and it’s time to say goodbye (at least for now) to DAPCPA. At the beginning of the summer, David told me that my overall question to reflect on during the course of my internship was “As a CPA, what is my product? What do I sell?” I don’t know if I have the answer yet, but I’ve certainly been considering it throughout the past seven weeks.
It sounds a bit abstract but the first answer that comes to mind is this: integrity. I’ve spent the summer watching the interactions between DAPCPA and its clients. There are names for the things clients write checks for. Names like ‘tax return,’ ‘payroll,’ and ‘bookkeeping.’ All of these services are important and make our clients’ lives easier and more productive. In the case of tax returns, accountants get to boast that their services actually put money back into their clients’ pockets.
Nevertheless, when it all boils down, I don’t think that that’s why people keep coming to CPAs. I don’t think that accountants are selling tax returns or audit reports to people, the same way that a car salesman sells Ford or Toyota vehicles. Accountants provide services that remove some hassle from their clients’ lives. I mean, I have heard rumors that not everyone thinks filling out IRS tax forms is the most exhilarating, empowering, better-than-TV-Movies-and-Games-combined way to spend their time. However, I’m pretty sure those rumors are false. I think that the reason people don’t tough it out and slough through the IRS tax instructions, and the reason that entities come to CPAs for audit or review services, is that people are buying integrity from CPAs.
Tax clients hand over massive piles of income and expense documents and walk away certain that their accountant will produce legally sound, IRS-compliant tax forms. They also trust that their accountant will find the largest tax refund (or smallest taxes owed) possible. Audit clients open their doors, filing cabinets, and computer files to CPAs trusting that the audit will assure investors, creditors, and other stakeholders that their financial numbers are true and fair, and their control systems are strong and reliable. In order for clients to be comfortable with tax returns prepared by someone else, or for stakeholders to be satisfied with an entity’s audited financial reports, they have to have an unshakeable trust in the CPAs doing these services. They aren’t paying for the completed pages of a 1040, or the glossy coil bound sheets in an independent auditor’s report. Clients are paying for- and CPAs are selling- the well-founded faith that the person completing those documents is 100% honest, well-intentioned, unbiased, unwaveringly ethical, and an expert in their field.
As I’ve shadowed the CPAs at DAPCPA, interacted with clients, and worked on various projects over this summer, I’ve seen integrity being “sold” over and over. Whether it's a phone call to get help with the questions of day-to-day business, a meeting to get on the same page, allowing the auditor to walk in and scrutinize a business, or dropping off all the payroll documents at the front desk, clients are giving faith and CPAs are returning integrity. As a CPA, being ethical comes before personal interest, money, and any other tempting incentives to do wrong. I know I haven’t fully unwrapped the depth of David’s question. There is still so much more behind the sale of integrity than was captured in this blog post. I still have mountains of things to learn. But I will be forever grateful for what my time at DAPCPA has taught me. The experience has been invaluable and I can’t wait to see where it takes me.
It sounds a bit abstract but the first answer that comes to mind is this: integrity. I’ve spent the summer watching the interactions between DAPCPA and its clients. There are names for the things clients write checks for. Names like ‘tax return,’ ‘payroll,’ and ‘bookkeeping.’ All of these services are important and make our clients’ lives easier and more productive. In the case of tax returns, accountants get to boast that their services actually put money back into their clients’ pockets.
Nevertheless, when it all boils down, I don’t think that that’s why people keep coming to CPAs. I don’t think that accountants are selling tax returns or audit reports to people, the same way that a car salesman sells Ford or Toyota vehicles. Accountants provide services that remove some hassle from their clients’ lives. I mean, I have heard rumors that not everyone thinks filling out IRS tax forms is the most exhilarating, empowering, better-than-TV-Movies-and-Games-combined way to spend their time. However, I’m pretty sure those rumors are false. I think that the reason people don’t tough it out and slough through the IRS tax instructions, and the reason that entities come to CPAs for audit or review services, is that people are buying integrity from CPAs.
Tax clients hand over massive piles of income and expense documents and walk away certain that their accountant will produce legally sound, IRS-compliant tax forms. They also trust that their accountant will find the largest tax refund (or smallest taxes owed) possible. Audit clients open their doors, filing cabinets, and computer files to CPAs trusting that the audit will assure investors, creditors, and other stakeholders that their financial numbers are true and fair, and their control systems are strong and reliable. In order for clients to be comfortable with tax returns prepared by someone else, or for stakeholders to be satisfied with an entity’s audited financial reports, they have to have an unshakeable trust in the CPAs doing these services. They aren’t paying for the completed pages of a 1040, or the glossy coil bound sheets in an independent auditor’s report. Clients are paying for- and CPAs are selling- the well-founded faith that the person completing those documents is 100% honest, well-intentioned, unbiased, unwaveringly ethical, and an expert in their field.
As I’ve shadowed the CPAs at DAPCPA, interacted with clients, and worked on various projects over this summer, I’ve seen integrity being “sold” over and over. Whether it's a phone call to get help with the questions of day-to-day business, a meeting to get on the same page, allowing the auditor to walk in and scrutinize a business, or dropping off all the payroll documents at the front desk, clients are giving faith and CPAs are returning integrity. As a CPA, being ethical comes before personal interest, money, and any other tempting incentives to do wrong. I know I haven’t fully unwrapped the depth of David’s question. There is still so much more behind the sale of integrity than was captured in this blog post. I still have mountains of things to learn. But I will be forever grateful for what my time at DAPCPA has taught me. The experience has been invaluable and I can’t wait to see where it takes me.
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